Recording in Journals & Posting in Ledgers

Recording in Journals & Posting in Ledgers

This course is part of Introduction to Financial Accounting: The Accounting Cycle Specialization

Instructor: Andrea Eliassen

Access provided by Rothschild & Co. Wealth Management UK

10,397 already enrolled

4 modules

Gain insight into a topic and learn the fundamentals.

182 reviews

1 week to complete

at 10 hours a week

Flexible schedule

Learn at your own pace

4 modules

Gain insight into a topic and learn the fundamentals.

182 reviews

1 week to complete

at 10 hours a week

Flexible schedule

Learn at your own pace

Skills you'll gain

Details to know

Shareable certificate

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Assessments

8 assignments

Taught in English

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This course is part of the Introduction to Financial Accounting: The Accounting Cycle Specialization

When you enroll in this course, you'll also be enrolled in this Specialization.

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There are 4 modules in this course

This course covers the basic procedures involved in recording financial entries in Journals and Ledgers. Upon completing this course, you will be able to analyze and record various business transactions. You will also learn about the accounting cycle, posting transactions, accrual accounting, and cash accounting. You will also have the opportunity to practice these skills through a series of activities that provide real world experience.

In this module we will review the process of recording proper entries into the general journal. We will start by walking through the step-by-step process of analyzing and recording service business transactions that follow the debit and credit rules. You will then have the opportunity to record transactions in the general journal on your own in this module's graded activity.

What's included

3 videos2 readings2 assignments

3 videos Total 10 minutes

Recording Transactions in the General Journal 2 minutes
Recording Transactions in the General Journal Walkthrough 6 minutes
Activity Walkthrough 2 minutes

2 readings Total 90 minutes

Recording Transactions Activity 45 minutes
Supplementary Readings 45 minutes

2 assignments Total 60 minutes

Recording Transactions Assessment 30 minutes
Recording Transactions Practice Assessment 30 minutes

In this module we will review the process of posting transactions from the general journal to the ledger. We will start by introducing ledger forms and T-accounts, then we will proceed to a walkthrough of the proper steps of posting transactions. You will then have the opportunity to post transactions from the general journal to the ledger on your own in this module's graded activity.

What's included

3 videos2 readings2 assignments

3 videos Total 11 minutes

Posting Transactions from the General Journal to the Ledger 4 minutes
Posting Transactions Walkthrough 6 minutes
Activity Walkthrough 2 minutes

2 readings Total 90 minutes

Posting Transactions Activity 45 minutes
Supplementary Readings 45 minutes

2 assignments Total 60 minutes

Posting Transactions Assessment 30 minutes
Posting Transactions Practice Assessment 30 minutes

In this module we will introduce the trial balance and the process of correcting entries. We will begin with an overview of how to transfer data from the ledgers to the trial balance, and continue with a step-by-step walkthrough of correcting entries. You will then have the opportunity to prepare your own trial balance in this module's graded activity.

What's included

3 videos2 readings2 assignments

In this module we will introduce and learn to differentiate between cash accounting and accrual accounting. We will begin by reviewing key concepts related to accrual accounting including the periodicity assumption, the expense recognition principle, the revenue recognition principle, and the matching principle. You will then have the opportunity to work through example problems on your own in this module's activity.